March tech talk: Victoria versus Australia: opportunities, endowment & performance

Join the Melbourne Branch for their March technical talk - Victoria versus Australia: opportunities, endowment & performance.

About this event

Over the last decade Victoria accounted for 4% of Australia’s exploration expenditures. While this appears small, the State accounts for just 3% of Australia’s available land area.  Consequently, on a $/km2 basis Victoria is one of the more intensively explored States.

On average ~14 significant discoveries are made each year in Australia. Over the last decade Victoria accounted for 7 discoveries – 7% of the country’s total.  Victoria performed well. Over the last decade, two significant gold discoveries were made in Victoria – the Swan deposit [Tier1] in 2016 and Sunday Creek [Tier2] in 2022.

Over the last decade Australia spent US$21.9 billion [in Dec 2023 US$] on exploration. Over the same period US$29.9 billion of value was created. Dividing one by the other gives a Value/Cost (or “Bang-per-Buck”) of 1.37 for Australia.  In short, over the last decade, exploration was a value-creating endeavour in Australia. Victoria was (by far) the best performing State with a Value/Cost ratio of 4.27.  

With regard to its Policy Potential Index (a measure of business risk for mining & exploration companies), the latest Survey from the Fraser Institute has Victoria ranked 48 out of 86 countries/jurisdictions. Victoria has the least attractive profile of all the Australian States – and getting worse over time. The main challenges are associated with environmental regulations, access to land and administration of regulations. 

This presentation will compare the discovery performance of Victoria against the other six Australian States. It will also touch on some of the challenges faced by local explorers.

Program:
5:00pm - 6:00pm: Guest arrival, networking, and nibbles
6:00pm - 8:00pm: Presentation, Q&A, and networking

Speaker/s

Richard Schodde

FAusIMM

Managing Director

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Richard is the Managing Director of MinEx Consulting. He is a Geologist with 30 years of experience in the in the resources industry. His experience is complimented with a unique mix of business evaluation across a wide range of industries (mining, energy and chemicals) and along the entire value chain (from R&D and exploration through to project development, strategic planning and mergers & acquisitions).